Acuren Corporation
TIC Industrials Specialty Business Services
Acuren Corporation’s revenue for fiscal 2025 (year ended December 2025) was $1.5 billion, up 39.4% from fiscal 2024. In the quarter to June 2026, revenue grew 86.1%, EPS fell 3,057.9%, free cash flow fell 102.2% and total debt rose 114.7%, each against the same quarter a year earlier. Revenue growth for three consecutive years.
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Acuren Corporation (TIC) Piotroski F-score
Acuren Corporation's Piotroski F-score for fiscal 2025 is 4 out of 9: 4 of nine tests of profitability, leverage and efficiency passed, down from 5 in fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 4 | (1.00) |
| FY2024 | 5 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (2.82%) | (6.93%) | Fail | 0 |
| Positive operating cash flow | 95.02m | 23.07m | Pass | 1 |
| Rising return on assets | (2.82%) | (6.93%) | Pass | 1 |
| Cash flow above net income | 188.30m | 143.36m | Pass | 1 |
| Falling long-term leverage | 0.48 | 0.43 | Fail | 0 |
| Rising current ratio | 3.20 | 3.71 | Fail | 0 |
| No new shares issued | 156,600,400 | 121,454,800 | Fail | 0 |
| Rising gross margin | 29.36% | 24.21% | Pass | 1 |
| Rising asset turnover | 0.46 | 0.63 | Fail | 0 |
| Piotroski F-score | Mixed | 4 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| CBZ CBIZ, Inc. compare | 8 |
| MMS Maximus, Inc. compare | 8 |
| CMPR Cimpress plc compare | 8 |
| LZ LegalZoom.com, Inc. compare | 8 |
| ABM ABM Industries Incorporated compare | 7 |
| FA First Advantage Corporation compare | 6 |
| TIC Acuren Corporation | 4 |
| BV BrightView Holdings, Inc. compare | 4 |
| TH Target Hospitality Corp. compare | 3 |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover